What I’m Expecting 9:30-11AM This Morning 11.16.15 $SPX S&P 500

Nov16spx

This is what I’m expecting at the open as of 9:09AM ET in the S&P 500 between 9:30-11AM based on the current futures.

Best case scenario:  At the open we test 2020, but run into an upward 4 that retraces nearly 382 back to 2045 of the 1.618 W3 down..that would essentially put a halt to the beef of the downside momentum of the downward 3 and/or bottom the market.   The VIX just happens to be in the 20’s at this point and over the past year, “normal” W2 corrections have bottomed with the fear at that level.

Worst case scenario: There’s an immediate  strong fade to test 2000-2006 or the full 1.618 downward in the S&P 500, but after testing that level, we’d see that 382 W4 back to the 2033-2035 level.

Where I’m leaning this morning:  We may fade to test 2000-2006, but in either case we’re going to likely see a 382 W4 rally, or even better yet, if the fade does happen, the VIX will rocket to the mid 20’s and this quick violent Wave 2 correction would essentially be over before a new impulse.

 

About the author

CEO Ted Aguhob, Master Elliottician and Technical Analyst, Day And Swing Trader, Website Designer And Marketer, Artist, Producer and Musician has provided content to gemxwave.com, wavegenius.com and masterofcharts.com for over 14 years. The biggest breakthrough as a blogger came in 2013 when Wavegenius.com produced a net profit of over $177,000 and became one of the highest earning blogs in the entire country. Many of his biggest and most amazing calls appeared on major financial websites like Thestreet.com, Yahoo Finance and MSN Money, was a radio personality on Washington DC Radio, and has a following in the tens of thousands for many years. Ted is known for his charisma, vision, creativity and better yet.."genius."

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